Appian Co. (NASDAQ:APPN) Receives $36.29 Average PT from Analysts

Shares of Appian Co. (NASDAQ:APPN) have been given an average rating of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $36.29.

APPN has been the topic of a number of recent research reports. DA Davidson increased their price objective on shares of Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Barclays raised their target price on shares of Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Morgan Stanley raised their target price on shares of Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Citigroup raised their target price on shares of Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank lowered their target price on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock in a transaction on Friday, May 30th. The shares were sold at an average price of $31.47, for a total transaction of $9,441,000.00. Following the completion of the sale, the insider now directly owns 8,767,828 shares in the company, valued at approximately $275,923,547.16. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 2,141,195 shares of company stock worth $67,441,394. Company insiders own 43.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Barclays PLC lifted its stake in shares of Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after buying an additional 53,172 shares during the period. Entropy Technologies LP purchased a new stake in Appian in the fourth quarter valued at $208,000. Handelsbanken Fonder AB boosted its holdings in Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after purchasing an additional 1,100 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Appian by 5.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after purchasing an additional 400 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Appian in the fourth quarter valued at $574,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $32.18 on Wednesday. The firm has a market cap of $2.39 billion, a PE ratio of -25.54 and a beta of 1.75. The firm’s 50 day simple moving average is $29.97 and its 200-day simple moving average is $32.57. Appian has a one year low of $24.00 and a one year high of $43.33.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted ($0.24) earnings per share. Equities research analysts predict that Appian will post -0.28 EPS for the current fiscal year.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.